Linc Pen & Plastics was locked in 20% upper circuit at Rs 178.35 at 15:09 IST on BSE, with the stock extending Monday's rally triggered by reporting strong Q2 result.
Meanwhile, the BSE Sensex was up 16.39 points, or 0.06%, to 28,194.27
On BSE, so far 4.47 lakh shares were traded in the counter with pending buy orders of 71,149 shares at upper circuit. The stock has an average daily volume of 89,848 shares in the past one quarter.
The stock scaled a record high of Rs 178.35 in intraday trade today, 18 November 2014. The stock hit a low of Rs 151 so far during the day. The stock had hit a 52-week low of Rs 34 on 19 November 2013.
The stock had outperformed the market over the past one month till 17 November 2014, rising 18.78% compared with the Sensex's 7.93% rise. The scrip also outperformed the market in past one quarter, surging 108.92% as against Sensex's 7.95% rise.
The small-cap company has an equity capital of Rs 14.79 crore. Face value per share is Rs 10.
Linc Pen & Plastics' net profit rose 28.4% to Rs 4.07 crore on 2.3% rise in net sales to Rs 81.86 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours on Friday, 14 November 2014. The stock had jumped 19.49% to settle at Rs 148.65 on Monday, 17 November 2014. The stock has gained 44.12% in three trading days from its recent low of Rs 123.75 on 13 November 2014.
Linc Pen & Plastics said that the company emphasized on value-addition with sale of writing instruments priced at Rs 10 and above growing 44% in Q2 September 2014 over Q2 September 2013. The company said it has phased out five low volume/profitability products; enhanced portfolio focus and brand-spend efficiency. Exports were affected by political turmoil in Iraq, Syria and Yemen, Ebola scare in West African countries and Crimea crisis in Ukraine, Linc Pen & Plastics said.
With softening crude prices, the company expects resultant benefits (with a time lag of two to four months), if prices continue to stay at lower levels (a third of the raw materials used are crude based), Linc Pen & Plastics added.
Linc pen is one of India's leading writing instrument brands.
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